2024-01-17 15:33:11
The Legislature of La Rioja approved the launch of a quasi-currency to pay public employees. The proposal had been promoted by Governor Ricardo Quintela and obtained a majority from local Peronism.
The issue will be for about $22.5 billion. The provincial leader had targeted the national government for the creation of the parallel currency that was approved today. The governor assured that due to “the cruelty of the adjustment” applied by the Government, his administration is “forced” to promote a bond that would be issued to cancel the debts and salaries of public officials.
Read also: The governor of La Rioja called extraordinary elections so that the Legislature can discuss the creation of a quasi-currency
”The national government is forcing this due to the cruelty of the adjustment that it precipitated in 20 days. This meant that when people went to collect their salaries, they no longer made it to the end of the month,” Quintela said in statements to Radio 10.
The provincial leader considered that the national Executive seemed to have “a plan to destabilize the provincial governments” and argued that this occurs in a context in which there is “an economic program that generated inflation that is not recognized.”
Ricardo Quintela promoted the project so that La Rioja has its own currency (Photo: X/@QuintelaRicardo).
Quintela clarified: “The province never asked the Nation for the support of any bond.”
What is the quasi-currency promoted by the governor of La Rioja?
La Rioja became the first province that would have its own currency to alleviate the lack of resources in the crisis. Quintela recalled that the province had to issue its own currency when former president Carlos Menem was governor and also in 2001.
The governor had sent a project to the Legislature to issue $15 billion in quasi-currencies, which will be called Bocade. It requests that it be authorized to issue “debt cancellation bonds” up to that amount “and each bond must state that the nominal value it expresses will be equivalent, for each unit printed on the bond, to the peso of legal circulation in the relevant denominations.” .
The Riojan governor ignored the President’s criticism and sent a project to the Legislature to create his own currency. (Photo: NA / Dopacio/Capece)
“Today I called extraordinary sessions and sent a bill to give me financial instruments, whether virtual or physical, to be able to use, if necessary, the abandonment of the Nation with the province of La Rioja,” said the president. in radio statements this Tuesday.
“Welcome the provincial currencies to the competition,” wrote President Javier Milei on the social network X (ex Twitter). There he warned that “unlike what happened in the past, in no way are they going to be rescued by the National Government.”
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